Hi Claude - this is an interesting topic and thanks for bringing it up.
Alberta's amending the requirements for home inspections stating that a provincial license is required by September will certainly have an impact on the inspectors themselves. To purchase insurance coverage a home inspector has to provide proof of experience and/or education.
These policies are quite expensive as they cover not only the liability for a mistake made under negligence (failing to do what a reasonable person should have done) but also errors and omissions (higher standard held due to person being a professional). Any claim presented is always examined for has there been injury, has someone declared the injury and what level is available to address the injury.
At the current time waivers have been used to limit an inspector getting sued but this will become a thing of the past with the new regulations. This is good for the home buyer as their purchase is often determined by a "good" home inspection.
My thought is that this is good for the home buyer and the insurance industry will benefit from increased sales of liability policies and bonds. These costs will have to be passed down to the home inspectors' clients but revenue from one inspection a month would about equal the insurance costs. Overall this could also weed out the less committed home inspectors and improve the standard of the industry.
Claude Lawrenson (guest) 11 Jun 2011 00:10
